CannTx Life Sciences Announces an Exclusive Strategic Alliance with Devonian Health Group
CannTx Life Sciences Announces an Exclusive Strategic Alliance with Devonian Health Group for the development of Cannabinoid-based Pharmaceutical Drugs
- • The combination of CannTx’s Micropropagation technology and know-how with Devonian’s Botanical Drug expertise for the development of World Class Cannabinoids-based Pharmaceutical drugs.
- • Strategic Alliance to be rolled into a Limited Partnership within the next 12 months.
Puslinch, ON, June 4, 2020 – CannTx Life Sciences Inc. (“CannTx” or the “Corporation”), a privately owned owner-operated cannabis producer licensed by Health Canada under the Cannabis Act today announced a strategic alliance with Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical corporation focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products.
Under the terms of the agreement, the Parties have formed a strategic alliance to cooperate in the research, development, manufacturing, and commercialization of pharmaceutical products derived from cannabinoids. CannTx has granted Devonian the worldwide exclusivity to its micropropagation technologies and know-how, and to its Steadystem division for germplasm validation for the development of botanical drug products, with human and veterinary applications, as defined by the US Food and Drug Administration / Botanical Drugs Regulations and on a non-exclusive basis for all other sectors, including the agricultural and the consulting sectors. Under similar terms, Devonian has granted CannTx exclusive access to its pharmaceutical expertise and platform, its Cannabis Research Licence, and drug development knowledge for the development of the cannabinoids-based Pharmaceutical Products and on a non-exclusive basis for all other sectors. It is expected that the Strategic Alliance will be rolled into a Limited Partnership, or any other legal entity, within the next 12 months.
The announcement of this relationship is further evidence that CannTx, and in particular our medical brand Bower, is realizing its vision to bring confidence to cannabis. Our same technological platform that ensures consistent and quality products for cannabis patients and recreational consumers is the same basis for producing standardized Active Pharmaceutical Ingredients to support novel therapeutics with global markets. Our Steadystem germplasm validation program is an evidenced-based approach to not only discovering unique cannabis metabolomes, but also ensures that a reliable and competitive manufacturing supply chain can be built to support the commercialization of Devonian’s innovative drug discovery efforts.
“This agreement is another fine example that CannTx Life Sciences, operating as a private company, has developed an owner-operated leadership team that continues to demonstrate the ability to successfully produce premium quality cannabis while focusing on ‘the science of cannabis’. I am proud to be a member of this dynamic team.” said Mike Abbott, CannTx’s President/CEO and Co-Founder.
“Over the past two (2) years, our company has evaluated several cannabis facilities in order to find a supplier of pharmaceutical-grade cannabis. CannTx, with its expertise in tissue culture and micropropagation technology, is the ideal strategic partner to help us to launch our cannabinoids-based pharmaceutical program. Devonian will now have access to raw material with consistent cannabinoids’ profile both within and between batches, essential in a pharmaceutical drug development program. We will be working closely with CannTx to implement pharmaceutical Standard Operating Procedures (SOPs), for controlling, documenting, and performing product identification and traceability, from the plant’s genetic profile to the cannabinoids content and to the final pharmaceutical product.” said Dr André P. Boulet, PhD. President and CEO of the Company Devonian. “We are thankful to the investment advisory firm, Keira Capital Partners Inc, for their assistance in this transaction,” added Dr. Boulet.
About CannTx Life Sciences Inc.
CannTx Life Sciences Inc. is a privately-owned cannabis producer, with exceptional biotechnology and horticulture capabilities. Founded in 2013, CannTx operates a 30,000 sq. ft. facility, just South of Guelph ON, under both a Standard Cultivation and Standard Processing authorization from Health Canada. CannTx benefits from its collaboration with the University of Guelph. CannTx operates a commercial-scale in vitro plant tissue culture lab, a Biosafety Laboratory Level 2 microbiology lab, 8 precision-controlled growth environs for flower production, and a photobiology lab for crop optimization.
CannTx’s tissue culture capabilities diversify its revenue opportunities through its Steadystem Solutions division, providing germplasm cleaning, validation, storage, and propagation services to other cannabis cultivators and breeders. Leveraging local analytics services providers, paired with CannTx efficient and productive cannabis cultivation operations, and its growing in vitro library of clean strains, CannTx is uniquely positioned to provide the most robust suite of germplasm validation services, and a superior platform for germplasm commercialization.
Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian's core strategy is to develop prescription botanical drugs from plant materials and algae for the treatment of inflammatory-autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian’s focus is further supported by a US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian Health Group Inc. was incorporated in 2015 and is headquartered in Québec, Canada where it owns a state-of-the art extraction facility with full traceability ‘from the seed to the pill’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSXV Exchange (TSXv:GSD).
For more information, visit www.groupedevonian.com
About Keira Capital Partners Inc.
Keira Capital is registered, regulated and supervised by “Autorité des Marchés Financiers of Quebec” as an Exempted Market Dealer and is also registered with Ontario, Alberta, and British Columbia Securities Commissions. Keira focuses on transactions, both nationally and internationally, with the help of a team of innovative professionals, all of whom have significant experience in business and financial transactions. Keira is also the exclusive Canadian representative of the CDI Global network, linking Keira with fifty offices providing corporate finance and M&A services in 30 economic centers across the globe.
For more information, visit www.keiracapital.com
CannTx Life Sciences Inc.